Dimensional Fund Advisors LP Sells 14,470 Shares of Penske Automotive Group, Inc. $PAG

Dimensional Fund Advisors LP cut its position in Penske Automotive Group, Inc. (NYSE:PAG) by 1.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,137,159 shares of the company’s stock after selling 14,470 shares during the quarter. Dimensional Fund Advisors LP owned 1.73% of Penske Automotive Group worth $197,758,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PAG. Victory Capital Management Inc. increased its stake in Penske Automotive Group by 48.9% in the third quarter. Victory Capital Management Inc. now owns 1,391,281 shares of the company’s stock valued at $241,958,000 after acquiring an additional 456,611 shares during the last quarter. Burgundy Asset Management Ltd. raised its position in Penske Automotive Group by 3.1% during the second quarter. Burgundy Asset Management Ltd. now owns 890,356 shares of the company’s stock valued at $152,972,000 after purchasing an additional 26,827 shares in the last quarter. AQR Capital Management LLC lifted its stake in Penske Automotive Group by 21.1% during the second quarter. AQR Capital Management LLC now owns 681,741 shares of the company’s stock worth $116,953,000 after purchasing an additional 118,976 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Penske Automotive Group by 28.4% during the first quarter. Goldman Sachs Group Inc. now owns 380,267 shares of the company’s stock worth $54,751,000 after purchasing an additional 84,045 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Penske Automotive Group in the 2nd quarter valued at $32,425,000. Institutional investors own 77.08% of the company’s stock.

Penske Automotive Group Stock Down 0.6%

Shares of NYSE:PAG opened at $156.77 on Monday. Penske Automotive Group, Inc. has a 52-week low of $134.05 and a 52-week high of $189.51. The company has a market capitalization of $10.31 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.63 and a beta of 0.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.22 and a current ratio of 0.99. The company has a fifty day moving average of $162.71 and a 200-day moving average of $167.27.

Penske Automotive Group (NYSE:PAG) last released its quarterly earnings data on Wednesday, February 11th. The company reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.19 by ($0.28). The firm had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.62 billion. Penske Automotive Group had a net margin of 2.91% and a return on equity of 15.77%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same period last year, the business earned $3.54 EPS. On average, equities analysts predict that Penske Automotive Group, Inc. will post 13.86 EPS for the current fiscal year.

Penske Automotive Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Wednesday, February 25th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This is a positive change from Penske Automotive Group’s previous quarterly dividend of $1.38. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.6%. Penske Automotive Group’s payout ratio is 41.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays lifted their price target on Penske Automotive Group from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Penske Automotive Group in a research note on Monday, December 8th. Finally, Bank of America began coverage on Penske Automotive Group in a research report on Tuesday, December 9th. They issued a “buy” rating and a $195.00 target price on the stock. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Penske Automotive Group presently has an average rating of “Moderate Buy” and an average price target of $184.43.

Penske Automotive Group Profile

Penske Automotive Group, Inc (NYSE: PAG), headquartered in Bloomfield Township, Michigan, is an international transportation services company primarily focused on automotive and commercial truck dealerships. The company retails new and pre-owned vehicles across a broad spectrum of brands, while offering parts, maintenance, collision repair and reconditioning services. In addition, Penske provides financing and insurance products through its integrated finance and insurance operations, supporting both retail customers and commercial clients.

Formed in 1990 as United Auto Group and publicly traded since 1999, Penske Automotive Group has grown through organic expansion and strategic acquisitions to establish a network of dealerships and service centers across the United States and Europe.